Speaker Pelosi differs from Obama on taxes, probes

House Speaker Nancy Pelosi appears to differ from Barack Obama on at least two issues _ rolling back tax cuts for the wealthy and investigating the Bush administration. But the two Democrats agree on the need to address the soaring cost of entitlements such as Social Security and Medicare _ the programmes that provide retirement benefits and health insurance primarily for the nation's growing senior population. Pelosi, who as speaker is the top figure in the House leadership, said on Sunday she wants Congress to consider repealing President George W. Bush's tax cuts on those who make more than $250,000 well before they expire at the end of 2010. Obama had promised to repealthe tax cuts as well during the presidential campaign, but he has since backed off that pledge, signaling he would be willing to simply let them expire. The Democratic House speaker wants Congress to consider repealing President George W. Bush's tax cuts for the wealthy well before they expire in 2010, in contrast to what Obama is proposing. Pelosi said Democrats have promised to end the Bush tax cuts for those who make more than $250,000. We had campaigned in saying what the Republican Congressional Budget Office told us: Nothing contributed more to the budget deficit than the tax cuts for the wealthiest people in America,'' Pelosi said in an interview broadcast on Sunday. The California Democrat is pushing the president-elect to make good on a campaign promise that attracted some of the harshest criticism during the election _ that Obama is a typicaltax-and-spend Democrat who would raise taxes once in office. Obama has fought that label, emphasizing that any tax increase would be directed at those making more than $250,000. However, since the election, Obama has been reluctant even to raise taxes on people making that much. Lawrence Summers, Obama's choice for director of the National Economic Council, signalled again Sunday that repealing the Bush tax cuts would not be a priority.Our overall focus is going to be on increasing spending,'' Summers said in a broadcast interview. Beyond that, there's going to be a substantial tax cut for the American people.''

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